The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1887-03-16

cent. The administration of the
Mont Gle Piete contemplates reduc-
ing the rate. The money thus ac-
quired goes to pay the expenses of
management. At the end of a
year or fifteen months, if the pledger
does not respond to communica-
tion he receives from the Mont and
renew his pledge, or take out his
property, it is sold. Within the
general administration of the Mont
lie Piete there is an army of officials
called the commissaires priseurs,
who value tire property pledge.
During last year there were 1868
sales of unclaimed property, which
realized 246,987 francs. The COM
missaires priseurs look after these
sales, and their charge is 5 per cent.
The Director complains that the
charges of these commissaires are
excessive, and threatens reform.
Should the property sold get more
than it was originally valued at,
the owner gets the difference, but
he does not lose through depreciation
of value. Articles may be renewed
dd infnitum. At the immense
store.house in the Rue des Blancs
there are articles that have been re-
newed for over forty years. One
antiquated umbrella has been there
since 1928, during which time its
value has been paid four or five
times over in interest. AS diff
ferent colored ticket is given each
time pledge is renewed, the UNI
brella has long since exhausted all
the colors of the rainbow, and on the
last occasion, when the ticket was
presented for renewal, the Mont de
Piete made present of the vener-
able paraplule to the proprietor.
After all the expenses of the Mont
de Piete have been met, the balance,
if any, goes to the public assistance
the relief of the poor. There are
between forty and fifty Monts de
Piete in France, and all are managed
on the same principle, and are under
the care of the Municipal Councils.
The Paris house wishes to'have a
capital fund, but the Government
will not allow it. The town of
Lille is the only town which has a
fund (the result of private dona-
tions) for it's pawn-shop, and
charges no interest on articles less
than 30f value. Outside the nation
al institution pawn-broking is pro-
hibited in France. A man was re-
Gently caught who carried ON q sue
cessful business by buying pawn
tickets, and he will in due course be
punished.
The Mont de Piete was first es.
tablished in 1878 and became at
once great success. 1t was sup
pressed during the Revolution or
the ground that it was monopoly,
and Immediately the Jews and the
Lombards stepped in and carried on
tlourishing business. The repub'
lie considered the condition of things
"intolerable," re-established the
Mont de Piete after five years, and
with slight changes now and then in
the administration, it has continued
ever since with increasing success.
There are opponents to the system
but M. Edmond Duval, in a work
which he is preparing, giving the
whole history and administration Of
the institution, says that the annual
results of the Mont de Piete show
that the establishment has become
indispensable to the population O.
Pariswho are too intelligent topay any
heed to the reproaches of usury
, leveled against it. Doubtless, ht
, adds, some alterations are necessary
! in the administration, but no ont
can deny that it renders importan
services Pail Mall Gazette.